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Gold prices remain under pressure in Dubai, lose Dh25 in 11 days
Analysts say precious metals remain under pressure as delays in resolving the US-Iran conflict involving the US and Iran keep energy prices elevated
- PUBLISHED: Fri 22 May 2026, 10:09 AM UPDATED: Fri 22 May 2026, 10:10 AM
Gold prices dropped Dh1.75 per gram in early trade in Dubai on Friday, as the precious metal remained under pressure.
The 24K gold price was trading at Dh545.75 per gram when markets opened on Friday, down from Dh547.50 per gram at the close of trading on Thursday. It is down Dh25 per gram since this month’s peak of Dh570.75 per gram recorded on May 11.
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Among the other variants of the precious metals, 22K, 21K, 18K, and 14K gold prices were trading at Dh505.25, Dh484.50, Dh415.25, and Dh324.00 per gram, respectively.
Spot gold was trading at $4,532.95 an ounce, down 0.18 per cent.
Silver was up 0.55 per cent at $76.77 an ounce.
Vijay Valecha, Chief Investment Officer at Century Financial, said precious metals remain under pressure as delays in resolving the US-Iran conflict keep energy prices elevated, supporting the ascent of Treasury yields.
“Silver is showing more volatile price moves than gold. The path of least resistance for precious metals remains lower,” he said.
US President Donald Trump threatened to resume strikes on Iran in the coming days as part of a push to end the war, less than a day after saying he had just called off a US attack.
“The Iran conflict isn’t the only factor pushing yields higher. The other factor has been growing fiscal concerns about additional government spending to stimulate economic growth. The dimming upside for precious metals is also due to TIPS yields (real yields) having surged, suggesting investors anticipate an increase in inflation-adjusted borrowing costs,” added Valecha.
